Our local coastal community of Encinitas, CA has become host to a new annual film festival dedicated to featuring the most innovative and inspiring films regarding environmental issues, nature and the ocean.  The mission of the Cottonwood Creek Environmental Film Festival (CCEFF) is to use film to bring awareness and inspire positive action on behalf of the environment and encourage stewardship of the planet.  A noble and worthy cause!

It is no surprise this festival was born and conceived here in our very own Encinitas, CA, a lovely coastal town that boasts world class surfing, a thriving artist community, breathtaking seascapes, the nationally renowned Quail Botanical Gardens, and a historic and walkable downtown community.

The event takes place June 5th through Jun7th at La Paloma Theater and other locations in Encinitas.  Get more info on the CCEFF website, and join my family and me at Cottonwood Creek Park on Sunday, June 7th for Encinitas Environment Day.  Be sure to bring the kids!

And, by the way, if you’re new to the area and need assitance finding one of your own Encinitas homes, or are interested in buying a Del Mar property or a Solana Beach home, please contact us, Maxine Geller and Eva Meier.  We specialize in customized assistance when relocating to North San Diego County, we offer sound and intelligent real estate advice, and we provide excellent representation when purchasing a North San Diego County home.  We will guide you through the process and make it as pleasurable and painless as possible.  We look forward to meeting you!

The bit of drizzle we’re getting today isn’t making a dent in our low water stores.  The San Dieguito Water District, the authority serving Encinitas CA homes, Leucadia CA homes and Cardiff CA homes, has recenty bumped us up from a level 1 “drought watch” to a level 2 “drought alert”.  So we’d better stop whining about the grey, wet weather and hope for a true downpour!

Effective July 1, 2009, here are the new guidelines that will apply:

• no washing down of paved surfaces
• eliminate landscape water run-off
• repair all leaks within 72 hrs of notification
• watering of yards is limited to no more than 3 days per week from June 1 – October 31
• homes with odd numbered addresses can water, Sunday, Tuesday and Thursday
• homes with even numbered addresses can water, Saturday, Monday and Wednesday
• Apartments and condos and businesses can water, Monday, Wednesday and Friday

Those of us living in these communities as well as other parts of San Diego County must all do our share to cut back on our water usage.  We tend to take our water supply for granted and don’t realize how fortunate we are to have access to reliably clean and fresh water.  So many don’t have that luxury…

But if that doesn’t motivate you, just keep in mind that non-compliance with water use restrictions during a Level 2 condition will result in a violation being issued and a fee being added to the water bill!

A buyer’s market

With the median California home price down 40-50%, homebuyers are definitely in the driver’s seat these days here in the Golden State.  And “first-time homebuyers”, i.e. those who haven’t owned a property in the last 3 years, really rule the road!

An even better “first-time” homebuyer’s market

In the past, the affordability index all but pushed these buyers out of homeownership, particularly when looking for San Diego homes for sale.  These folks have been saving and waiting, and waiting and saving, AND, finally, their time has come!  Unlike so many others who would like to take advantage of this great market, first time homebuyers, by definition, have no home to sell!  In addition, with the incredible interest rates out there right now, and the $8000 tax credit authorized by the American Recovery and Reinvestment Act of 2009, conditions are perfect for first time homebuyers. 

Better act fast

That said, this window of opportunity is a narrow one, and closing fast.  The market has definitely hit bottom in many low end areas, or, in fact, already passed it – and competition for these homes is starting to drive prices back up.   Moreover, the $8000 credit expires on December 1st, so eligible buyers had better act quickly!

Where the hot deals are

The coastal North San Diego County home markets  showing the biggest number of foreclosures, short sales and REO’s, are Vista, San Marcos and Oceanside.  There are almost 3000 properties under the conforming limit ($417,000) on the market right now in North County!  To learn more about how you can take advantage of this great buyer’s market and the various incentives available, give me a call (760-815-1318).  Don’t let this opportunity pass you by!

Statistics have always intrigued me – in part because they are so malleable. It’s easy to manipulate the numbers to argue just about any point you want to make.

The high end areas in San Diego County like Del Mar, Solana Beach and Rancho Santa Fe are still in serious decline, with very little activity and large inventory sitting on the market. 

An interesting analysis I recently did shows why the sellers had better get on board with the new reality or they will never sell their home.   I compared the price per square foot of homes that are active on the market (i.e. “not selling”!) with those that have sold, and more specifically, with those that have sold in the last 12 months, 6 months, 3 months, 2 months or 1 month.  I focused on Del Mar Ca real estate, since, after all, that’s where my office is and where much of my business tends to be.  I also restricted the analysis to detached homes in the $1m-$3m range, since that is the most representative niche in Del Mar.

Here are the raw numbers:

• 99 actives (NOT selling)
• 58 sold over the last 12 months
• 20 sold over the last 6 months
• 12 sold over the last 3 months
• 7 sold over the last 2 months
• 2 sold over the last 1 month
• 11 pending (in escrow)

When looking at the price per square foot of the Del Mar homes that sold in these periods, we see a trend:

• actives -      $784/SF
• 12 mo -      $604/SF
• 6 mo -        $573/SF
• 3 mo -        $518/SF
• 2 mo -        $554/SF
• 1 mo -        $322/SF
• pending -     $479/SF (once these close, the final sales price per square   foot [SP/SF] will be much lower, as the $479 is based on ASKING price)

A more visual depiction:

Del Mar Ca - Price per Sq Ft as function of period sold

In other words, those Del Mar properties that have sold more recently are those with a much lower price per square foot.  Del Mar listings still sitting on the market NOT selling, at an average of $784/SF, are simply OVERPRICED.  Of course price per square foot is not the only factor in selling a home, however, this analysis is certainly a telling indication of what’s selling!

For solid, realistic input on where you need to be priced in order to sell your Del Mar Ca home in today’s market, give me a call (760-815-1318) – I’d be happy to give you an honest assessment, with no obligations or strings attached.